Metro expansion in Ghaziabad to boost realty sentiment

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The plan to broaden the Ghaziabad metro halls from Vaishali to Mohan Nagar, Sector 62 to Sahibabad Augmentation and Shiv Vihar to Mandola in Loni wouldn’t just offer rest from vehicular clog yet additionally boost property costs in these areas by 10-15 percent, say, realty specialists.

Closeness to the National Highway (NH) 24, Delhi-Meerut Expressway, Sahibabad industrial sector and the transport center of Lal Kuan has seriously impacted the availability network in the residential pockets of Ghaziabad like Indirapuram, Vaishali, Vasundhara and Mohan Nagar. Regardless of several measures implemented by the Ghaziabad Advancement Authority (GDA) in the past, the situation has simply deteriorated because of increased immigration to the National Capital Locale (NCR). Hence, to streamline vehicular development in the city, the Authority has planned the metro expansion in Ghaziabad from Vaishali to Mohan Nagar, Sector 62 to Sahibabad Augmentation and Shiv Vihar to Mandola in Loni. The metro augmentations wouldn’t simply decrease the quantity of wheels on roads yet would also elevate the realty sentiment in the district.

Vaishali to Mohan Nagar metro

The Ghaziabad Improvement Authority (GDA) approved the proposal for the Vaishali-Mohan Nagar Metro course augmentation after 20 months of the accommodation of the Detailed Venture Reports (DPRs) by the Delhi Metro Rail Corporation on November 21, 2019. The 5.05 km-long elevated metro hall from Vaishali to Mohan Nagar should have three stations, with an estimated cost of Rs 1,808 crore.

Nonetheless, the authority has now chosen to drop the idea and instead foster a ropeway framework to interface Vaishali with Mohan Nagar, as it will cost exclusively about Rs 490 crore. In any case, the authority has yet to preclude the metro expansion as the metro would ease suburbanites from the traffic menace and would be a shelter for the real estate market in Mohan Nagar, Indirapuram and Vasundhara

Sector 62 to Sahibabad Metro augmentation

The 5.11 km-long metro passageway would encompass five metro stations between Noida Electronic City and Sahibabad via CISF Road. The five metro stations are planned at Vaibhav Segment, Indirapuram, Shakti Khand, Vasundhara Sector 7 and Sahibabad.

According to Praveen Arya, Real Estate Agent, Ghaziabad, “The proposed metro expansion would deliver seamless network to thousands of individuals who travel among Ghaziabad and Noida and spend around 40-50 minutes in traffic consistently. The new course would offer reprieve to workers from peak traffic experienced at NH-24 and the Vasundhara-Indirapuram Road. Additionally, the proposed infrastructure would also boost property costs in Shakti Khand and Vasundhara. The sectors that would benefit the most from the proposed network include Sector 3 and 4 in Shakti Khand and Sectors 1, 3, 4, 5, 10 and 12 in Vasundhara. The metro network may flood property values by 10-15 percent.

Besides, the rental market may also encounter a boost as Vasundhara and Indirapuram have tremendous vacant inventory stock. In any case, the infrastructural expansion is probably not going to have any influence on the homegrown stock owing to the shortage of land.

Shiv Vihar-Mandola Housing, Loni

Combined with road de-blockage, the augmentation of Shiv Vihar metro rail up till Mandola Housing would also introduce real estate improvement in Loni. Right now, the realty market of Loni involves vast land tracts and a couple of planned residential states like Khanna Nagar, Indirapuri and Lal Bagh. Apart from these GDA-approved states, a large portion of the residential improvements in Loni are unauthorized.

The future metro improvement would notably alter the realty dynamics in the area as new residential engineers may foray into the market. Land costs may also flood as had been the case in Shiv Vihar. According to Vikash Sharma, Real Estate Consultant, Jai Maa Durga Property, land values in Shiv Vihar have flooded by 20-30 percent in short of what one year of the beginning of the metro.

Moreover, traffic is a major issue in the locale. As of now, Loni faces heavy traffic from the neighboring areas of Baghpat and the National Capital, Delhi. Individuals traveling from Baghpat to Delhi or the other way around have no other alternative course except for to pass through Loni, which leads to gridlock during peak hours. Thus, the 8.7 km-long metro passage which would be the expansion of Delhi’s Pink Line Metro is anticipated to be a game-changer for the area. It wouldn’t just decongest the road however would also lay the foundation for real estate expansion in Loni.

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